A media institution is a company that owns multiple mass media businesses like television, movies, publishing, etc. Examples include Disney, DreamWorks, Fox, and Paramount. The document discusses the pros and cons of different types of media institutions distributing a new media product. A large, successful institution could widely distribute the product but may demand changes. An independent distributor could target niche audiences through viral marketing but with less funding. The group chose Twisted Pictures as it specializes in horror films matching their opening sequence.